Professional Advisor FAQs

(If you wish to read these FAQs later, or pass them on to your clients, you can download a handy PDF file of this information by clicking here).

Q.  What are the advantages of professional advisor’s clients donating to the Pinellas Community Foundation?

A. The Pinellas Community Foundation allows advisor’s clients to establish a customized charitable fund without being burdened by the tax liabilities and administrative hassles associated with setting up a private foundation. Any donor who creates a fund can personalize their giving. What’s more, funds are pooled for investment management purposes to minimize costs and achieve a greater return – making it possible for a smaller individual fund to enjoy the same economies of scale as a large independent foundation. The Foundation offers flexibility, convenience, tax advantages, long-term stability, and expertise in financial management and grant making.

Q.  What are the advantages of setting up a charitable fund through the Pinellas Community Foundation?

A. One of the most significant advantages to setting up a fund with the Pinellas Community Foundation is their community investment team. Donors may request custom research on nonprofit organizations or on specific areas of charitable interest. The Foundation staff will also meet with donors individually to help them develop a strategic approach to their grant making wishes.

Q. What is the difference between setting up a private foundation and creating a donor-advised fund at the Pinellas Community Foundation?

A. The Pinellas Community Foundation offers the advantages of a private foundation without the expense and hassle. The Foundation handles all aspects of reporting, and advises donors on smart and effective grant making programs. Some Foundation donors still have their private foundations, but they may also use a fund at the Foundation to support causes and nonprofits that are outside the general focus of their private foundation. More important, the Foundation is a public charity, and offers donors tax deductions that are often superior to those accorded to private foundation donors.

Q.  What are the tax benefits for professional advisor’s clients if they give through the Pinellas Community Foundation?

A. The Pinellas Community Foundation offers the maximum charitable tax advantages available by law. Because of the Foundation’s nature, it is not subject to the taxes and regulations affecting private foundations, and it has greater flexibility on matters such as minimum payout.

Q.  What kind of assets can be used to set up a charitable fund at the Pinellas Community Foundation?

A. The Pinellas Community Foundation can accept many kinds of assets including: cash, publicly traded securities, closely held stock, life insurance, Retirement plan assets. To download the Pinellas Community Foundation’s Gift Acceptance Policy, Click here.

Q.  How can a professional advisor recommend a nonprofit gift without recommending a specific nonprofit?

A. Professional advisors are often faced with a delicate dilemma: they want to discuss the many benefits of charitable giving with their clients, but they want to avoid recommending a specific charitable cause or organization. Fortunately, the Pinellas Community Foundation is a simple solution – it’s a single, trusted, vehicle donors can use to address the issues they care about most, while gaining maximum tax benefit. The Foundation offers a variety of giving options – including the ability to set up a charitable fund in the client’s name. It is just one way the Pinellas Community Foundation can help clients of professional advisors achieve their charitable goals.


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